While I am not disagreeing that this particular trend on the weekly chart was not "perfect", it is impossible to find the perfect trend - if you zoom in to smaller and smaller time frames you're going to find exceptions within the dominant trend. @TradeViper, I am sure that there is validity to what you are saying, but I have not yet had time to investigate your methods and examples. Tomorrow while the kids are at school, I will try to give it a shot. I need "quiet" to learn new concepts, and though I may be able to put up a post or two with kids underfeet - that is no time to learn. My reality is trying to learn, trying to make good decisions, trying to make profit, in between doing homework with kids, cooking meals, cleaning, etc. And on the days I don't have them, I work 12 hours + commute.

My mentor pointed out this trade (although he is more disciplined than I and probably won't enter it unless it gets a 50% retracement), but I agree with the overall assessment and I decided to take it. Sell on EurAud. Target 1:2 minimum. Will try to get 1:3 or more, but I got in to this trade late and it didn't retrace back to the 50% point. (At least not yet, and I looked at the hourly and 4hr charts, in my opinion it doesn't look like it will make it back up that far due to bearish pressure). This is one of those trades I mentioned keeping an eye on last Friday, and it took off. Wish I could have had a better entry, but still feel pretty confident about getting a decent move off of it. We'll see what happens...

Oh rats, now I feel kinda bad and won't sleep toninght, seriously, CC, I'm sorry and did not intend to cause any disturbance, or hard feelings, or irritation. Now with that having been said you really don't have to respond until you have the time etc, really you don't have to respond at all hehehehehe. I'm not Professor VIPER in the movie, "The Trading Chase", just a guy trying to help.

Please don't think I am trying to convince you, or that you have change anything. The whole point of my posts was to save you money, and try to get you to hit the brakes a bit and consider that just maybe following a long trending plan might not be the best way at this time.

Saw this trade possibility on another forum, what say you all? Broken trendline on daily chart, at resistance...looks promising to me. I'm thinking of entering if it breaks the low of that bull candle from yesterday.

Another trade possibility (again, not mine - I don't like to take credit when others are the ones who spotted it - but it doesn't hurt to share). We have previous support being tested as resistance. And an inside day candle set up, so, if today's candle breaks the low of yesterday's inside candle - we are likely to see a bearish move.

Regarding that EURAUD (I never trade this so don't take these comments seriously):

My short term method (4H) does show vulnerability to the downside but 2 things would concern me at this stage:

1) on the daily, it managed to close under that 1.5000 level 2 days ago but then closed back above it yesterday and is now struggling to press it from above. That is a big Pycho Support number and I would prefer to see it close again under it on the daily to confirm the down side.

2) I am looking at the series of recent HHs and the even longer series of HLs, stretching back to Feb through July, Sept and most recent - that looks like a strong upward support trendline to me and I would have preferred to see that broken first as well?

But these are just comments, I don't ever trade this pair, so take that pinch of salt......

I thought I might add that 4H chart here. This is not a "trading" chart. I just use it to help identify current overall directions. If that 1.5000 level breaks then it does seem we will head straight towards at least 1.4950. But I still have that "if"......oh, and sorry for contaminating your thread with some MA's (help, choke, I'm being strangled........poor old Simple_Simple, he was ok really, just a bit, well, simple.... )

Your feedback is much appreciated! Don't ever worry about posting here. And I think you've made some great points. By the way, I do use MA's as dynamic s/r - so you're not polluting anything

Did you happen to see my earlier post about trendlines and how I'm never quite sure if I'm doing them correctly? Cause see, here's how I could interpret it (not saying your way is wrong) - I just really don't know! But here's my example:

Another possible interpretation, I always notice that when breaking through s/r levels or trendlines - we tend to see big strong candles busting through ( or price stops right at the level and picks up again as if on the other side )...do you know what I mean?

.....Analysis Paralysis

Keep it simple and trade price - I hesitate to mention that most of the names given to silly patterns are also marketing tools for attracting new 'want to be' traders into the market. Sure these patterns hold up sometimes; anyone can curve-fit data to make an exception to the general rule - patterns are the result of price, they don't drive future price [a subtle but important difference when trying to establish a potential trade because of a lagging pattern]

No disrespect intended to anyone who attempts to trade such patterns, but with experience there comes a time when the penny drops; nothing wrong with trend lines, but patterns, well, good luck - take that as you will.

What's next - the inverted 'Head and Shoulders' or 'the man with a third leg'